Financial Crime

Anti-Money Laundering

US, China Secure New Agreement to Cooperate on AML

By Editors | 07/04/2024

Janet Yellen said the US and China will share best practices and provide updates on the actions being taken to close loopholes.

PEPs & Sanctions

Japan Adds 164 More Items to Russia Export Ban List

By Editors | 07/04/2024

The new export restrictions and a new diamond import ban will take effect from 17 April and 10 May, respectively.

Fraud, Scams & Cybercrime

US Jury Finds Terraform Labs, Do Kwon Liable for Fraud

By Editors | 06/04/2024

Terraform Labs and founder Do Kwon deceived investors about its algorithmic stablecoin UST, a jury found after a nine-day trial.

Fraud, Scams & Cybercrime

US Court Jails Bulgarian National Over “OneCoin” Fraud

By Editors | 06/04/2024

Irina Dilkinska assisted in running OneCoin’s day-to-day operations and laundered fraudulently obtained proceeds to the Cayman Islands.

PEPs & Sanctions

Two Men Admit to Conspiracy to Export Aircraft Parts to Russia

By Editors | 05/04/2024

The two Russian nationals falsely claimed the parts were intended for countries other than Russia. US authorities stopped multiple shipments.

PEPs & Sanctions

OFAC Sanctions 13 Vessels Over Iran Commodity Shipments

By Editors | 05/04/2024

The vessels, operated by UAE-based Oceanlink Maritime DMCC, are “deeply involved in the shipment of Iranian commodities”.

Anti-Money Laundering

Singapore Secures Second Conviction in Money Laundering Case

By Nithya Subramanian | 05/04/2024

Cypriot national Su Haijin, known for trying to escape from the police last August, agreed to forfeit about S$165mn in assets.

KYC & CDD

India Considers New Agency to Verify Online Lending Apps

By Ajoy K Das | 05/04/2024

The so-called “Digital India Trust Agency” would operate a public registry of digital loan apps that have been vetted for regulatory compliance.

PEPs & Sanctions

Russia-China Business Facing Banking ‘Bottleneck’ – Report

By Editors | 04/04/2024

VTB, the only Russian bank with a fully-fledged branch in China, is dealing with high demand from companies seeking to open accounts to do business with Russia.